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Mar 21, 2013
03/13
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right now, assad still dominates the syrian government. he knows that using chemical weapons is going to trigger american-- could trigger american intervention. he does not want to do it now. he does not want american intervention. but if he's driven out of damascus and up against the wall in the west of syria and looks like he's going to fail, he might very well use them, especially if he thinks it would trigger american involvement because america could be his last line of defense and last protection against something much worse. >> i haven't seen any hard evidence that they've been used. there have been some reports, and if they were used it seems to have been on an extremely small scale. but again, i think there's no hard evidence. might they be used? sure, desperate leaders might do desperate things if they felt there was no alternative. i don't think there's anything we can do to prevent their use, other than to threaten, as we have, if they were to be used it would cross a-- quote, unquote-- red line and have dire consequences. the
right now, assad still dominates the syrian government. he knows that using chemical weapons is going to trigger american-- could trigger american intervention. he does not want to do it now. he does not want american intervention. but if he's driven out of damascus and up against the wall in the west of syria and looks like he's going to fail, he might very well use them, especially if he thinks it would trigger american involvement because america could be his last line of defense and last...
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Mar 20, 2013
03/13
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government? >> well hard thing to know because it's very difficult to collect statistics in this area. the u.s. government says that unlike the chinese, they do not do any hacking in order to steal corporate secrets. they're not out hacking on behalf of american companies. they only participate in operations that are focused on defending and that include the critical infrastructure. the infrastructure of the united states isn't in government hands it's mowly in private hands with a few exceptions and they're having a hard time doing that. >> rose: are the chinese better at hacking than we are. >> they are certainly higher volume hackers but the sophistication of the attacks on iran would suggest that the united states and israel are probably at the top of the heap right now in terms of skill. the russians are also very good. the iranians are not very good but they are getting better and they have created a cyber core of their own partly in response they say to the american attacks. and they are b
government? >> well hard thing to know because it's very difficult to collect statistics in this area. the u.s. government says that unlike the chinese, they do not do any hacking in order to steal corporate secrets. they're not out hacking on behalf of american companies. they only participate in operations that are focused on defending and that include the critical infrastructure. the infrastructure of the united states isn't in government hands it's mowly in private hands with a few...
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Mar 25, 2013
03/13
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CNBC
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yes, you will get flexuation but the dividend is a nice alternative rather than waking up and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check point. conversations indicate a marketed increase in share losses in the past several months. sue, back to you. >> thank you very much. it's risk off today. we're off 116 points right now on the dow jones industrial average. moments from now ben bernanke will address a group of top policymakers in london. investors will watch for any and all signs and perhaps some comments on what's going on in europe, too. steve describes what is on top of the agenda today. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their
yes, you will get flexuation but the dividend is a nice alternative rather than waking up and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check...
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Mar 21, 2013
03/13
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FBC
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that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it pcked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to withstand the blow? we will talk about it. you heard about the $22 minimum wage. piles of "money" coming up. ♪ ♪ your finances can't manage themselve but that doesn't mean they won't try. bring all your finances togeth with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. ♪ melissa: he's making some "money." i'm back. this ceo of lenders ink, which has businesses in dining, gaming, entertainment and hospitality industries. i want to ask y about minimum wage because this is a huge debate right no
that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it pcked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to...
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Mar 20, 2013
03/13
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first, as a matter of governance, do you think eight years is the right amount of time for a central bank leader to serve or should it be less or more or undefined? and more specifically as it regards to you, your term is ten years from completion. how are you think being what you'll be doing next year after your term is completed? >> well, on the latter question, i don't have anything for you. i'll certainly be informing "the wall street journal" some decision or some developments on that front. in terms of term limits, i don't have a strong view on that. different countries use different approaches. of course, the president always has the topoption to reappoint not reappoint fed chairman. and the senate always has the option of confirming or not confirming. so in that sense, term limits are redundant. and if you had term limits, i think that would be the only office besides president and vice president that had that restriction. but that being said, i don't view this as a major issue, nor have i actively discussed, i think, on the hill. perhaps i missed it. but i don't have a stron
first, as a matter of governance, do you think eight years is the right amount of time for a central bank leader to serve or should it be less or more or undefined? and more specifically as it regards to you, your term is ten years from completion. how are you think being what you'll be doing next year after your term is completed? >> well, on the latter question, i don't have anything for you. i'll certainly be informing "the wall street journal" some decision or some...
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Mar 25, 2013
03/13
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when you allow a government bureaucrat to tell a law-abiding citizens. lou: you don't want any background checks? >> no, lou. first of all, it's a god given right, where in the second amendment where it says -- lou: eric, i got to take the leave. it's got to be a quick last word, okay? >> well, the point is what -- where is the room for infringement? we wouldn't tolerate that with the first amendment. lou: eric, i have to leave you asking a question. i appreciate you being here to provide the few answers to the few questions i got your way. thanks a lot. thank you very much. much more on the gun control debate, the assault on the second amendment throughout the broadcast. the billionaire mayor's spending on the first amendment to limit the second amendment. lavish spending on left wing ideas by america's oligarchs in tonight's "chalk talk," and cypress has a deal. how long it lasts? who knows. ubs senior economist will tell us next. ♪ lou: well, we're going to be talking about the economy in these markets with senior economist from ubs, drew mattis. ta
when you allow a government bureaucrat to tell a law-abiding citizens. lou: you don't want any background checks? >> no, lou. first of all, it's a god given right, where in the second amendment where it says -- lou: eric, i got to take the leave. it's got to be a quick last word, okay? >> well, the point is what -- where is the room for infringement? we wouldn't tolerate that with the first amendment. lou: eric, i have to leave you asking a question. i appreciate you being here to...
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Mar 20, 2013
03/13
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the house in the senate working on budgets to fund the government. they could use some inspiration from our 30th president to beat author charles johnson with us. and a defense witness explains the memory lapses of the defendant. next. facts thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the bestt experiences below... to the finest comforts above. 're not simply saluting history... we're making it. gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone but her... no no! no. ...likes 50% more cash. but i don't give up easy... do you want 50% more cash? yes! yes?! ♪ [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase, plus a 50% annual bonus on the cash you earn. it's the card for people whlike more cash. ♪ what's in your wallet? why? and we've hit the w
the house in the senate working on budgets to fund the government. they could use some inspiration from our 30th president to beat author charles johnson with us. and a defense witness explains the memory lapses of the defendant. next. facts thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing...
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Mar 20, 2013
03/13
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and during the crisis, the response of the government was, in fact, to increase the level of, you know, deposit or account sizes that were insured. so i consider that to be extremely unlikely in the united states. >> tom lee, "l.a. times." would you be in favor of reducing the flow of stimulus if we had another month or two, as we did in february, of job growth and the unemployment rate dropping, but the long-term unemployed didn't change much? and on a related question, how much of a pickup do you expect to see in the labor force participation rate and what would we need to see there for that to show substantial improvement? >> on the first question, as i said, i mean, that's a decision for the committee. we're going to have to make a judgment about how significant the improvement is, how sustained it is. long-term unemployment is one dimension of the unemployment problem. but, i think that probably the best way to get the long-term unemployed back to work is to get an overall strong labor market. and i think that's -- we'd be looking at the overall key indicators, like overall unempl
and during the crisis, the response of the government was, in fact, to increase the level of, you know, deposit or account sizes that were insured. so i consider that to be extremely unlikely in the united states. >> tom lee, "l.a. times." would you be in favor of reducing the flow of stimulus if we had another month or two, as we did in february, of job growth and the unemployment rate dropping, but the long-term unemployed didn't change much? and on a related question, how...
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Mar 25, 2013
03/13
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cards still fairly close to the vest until we get through some of these other policy issues, like the government shutdown, which seems to be out -- not a problem right now. the debt ceiling. so we only have one out-perform rating right now, which is technology. that's been a long-standing outperform for us. one underperform was consumer discretionary which is the potential for problems because of the tax increases. it turns out it's not having the impact on consumer spending as a lot of people thought. >> great advice. thank you so much. great to you on the prom. liz ann sonders and heidi moore joining me. up next, we're on the money. what is starbucks' recipe for success? my conversation with the company's founder and ceo about how he wants to do for tea what he has done for coffee. >>> and how health care may not be so healthy a business. >>> and later, talking tough on the smartphone market. can a new phone from a glass economy not so far away take a bite out of apple? what innovation means for your personal technology use, as we take a look at how the stock market ended for the week. back in
cards still fairly close to the vest until we get through some of these other policy issues, like the government shutdown, which seems to be out -- not a problem right now. the debt ceiling. so we only have one out-perform rating right now, which is technology. that's been a long-standing outperform for us. one underperform was consumer discretionary which is the potential for problems because of the tax increases. it turns out it's not having the impact on consumer spending as a lot of people...
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Mar 21, 2013
03/13
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the house in the senate working on budgets to fund the government. they could use some inspiration from our 30th president to beat author charles johnson with us. and a defense witness explains the memory lapses of the defendant. next. ♪ lou: public integrity returning to a little tiny piece of california. tiny california. the city of bell. five former elected officials today convicted on multiple counts of misappropriation of public funds. they were accused of paying themselves enormous salaries, up to $100,000 per year in a city where one in four residents live below the poverty line. there is so much to be done, of course, the debt burden. the misgovern state of california, but bell california, it gives them something of a start. gun rights activists out great step for troubling incident in the state of new jersey. four police officers raided the home of a certified firearms instructor after he posted the picture you see there on facebook. has -- his son holding a rifle. the 11-year-old boy properly holding the rifle, a 22. his figure is off the
the house in the senate working on budgets to fund the government. they could use some inspiration from our 30th president to beat author charles johnson with us. and a defense witness explains the memory lapses of the defendant. next. ♪ lou: public integrity returning to a little tiny piece of california. tiny california. the city of bell. five former elected officials today convicted on multiple counts of misappropriation of public funds. they were accused of paying themselves enormous...
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Mar 20, 2013
03/13
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that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it picked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to withstand the blow? we will talk about it. you heard about the $22 minimum wage. piles of "money" coming up. ♪ today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? ing it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. it's delicious. so now we've turned her toffee into a business. my goal was
that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it picked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to...
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trading for the volcker rule will bypass the law will make it risky bets will get bailed out by the government anyway and so this is you saying low interest rates not only do they deprive savers of income and deprive the economy of that economic activity but it just feeds criminality and also it causes criminals to reach. you know if you get once you're hungry you do more things for food so you know it's not just to say it was not getting return on investment it's the banks so the banks have to do more aggressive business to did that right so the low interest rates not only deprive savers of income but that also deprives banks of income so they take even riskier bets right now what about mark carney they're bringing him in from bank of canada to run the bank of england in a couple of months with this idea of getting the house in order the only possible outcome of this i think would be some massive money printing and more quantitative easing and more inflation coming to the u.k. had he said well you know it doesn't matter who you know chaired the bank you know countries get revenue three differ
trading for the volcker rule will bypass the law will make it risky bets will get bailed out by the government anyway and so this is you saying low interest rates not only do they deprive savers of income and deprive the economy of that economic activity but it just feeds criminality and also it causes criminals to reach. you know if you get once you're hungry you do more things for food so you know it's not just to say it was not getting return on investment it's the banks so the banks have to...
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have the regulators and the government officials paying tribute to these guys as doing heroic work by breaking the law acting outside of the law manipulating markets there lauded as heroes did they don't need defense. i guess. so far no right because what we're seeing is the regulators know it's happening and if the traders were not fine they were not punished con agra paid twelve million dollars but that's pocket lint to them while they commit pilate markets to pay the fine so there's a a just b. c. barclays bank of america j.p. morgan and jamie diamond if they caught breaking the law like they are repeatedly they just need more to pay the fine so it's really a nonevent matter fact without that manipulation the u.s. economy would crash now which government officials learn of this how did they learn of the manipulation and what was their response just break that down well there was a lot of complaining on the training for that day by traders who actually wanted to to buy or sell it at a lower price. when they investigated it but there's a agency with the u.s. government called the com
have the regulators and the government officials paying tribute to these guys as doing heroic work by breaking the law acting outside of the law manipulating markets there lauded as heroes did they don't need defense. i guess. so far no right because what we're seeing is the regulators know it's happening and if the traders were not fine they were not punished con agra paid twelve million dollars but that's pocket lint to them while they commit pilate markets to pay the fine so there's a a just...
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economy would crash now which government officials learn of this how did they learn of the manipulation and what was their response just break that down well there was a lot of complaining on the trading for that day by traders who actually want it to buy or sell it at a lower price. so when they investigated it there's a agency within the u.s. government called the commodity futures trading commission that is in charge of the energy and the commissioners got together and they decided they were going to call it a non bonafide trade so instead of calling manipulation they said it was a trade and interesting lee it was a republican commissioner scott o'malley who said i don't agree with. a very well thought out dissenting opinion saying it's extraordinary that market as vital as the oil market were clear manipulation is taking place and yet we call it a non bonafide train let everybody go back to where you know the gary gensler of the c.f.c. see former goldman sachs guy he didn't prosecute the manipulators of the silver market he's not prosecuting manipulators in the oil market and you kn
economy would crash now which government officials learn of this how did they learn of the manipulation and what was their response just break that down well there was a lot of complaining on the trading for that day by traders who actually want it to buy or sell it at a lower price. so when they investigated it there's a agency within the u.s. government called the commodity futures trading commission that is in charge of the energy and the commissioners got together and they decided they were...
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Mar 21, 2013
03/13
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. >> the syrian government blames terrorist groups for the alleged chemical attack. it triggered new calls on capitol hill to arm opposition forces, something sharply divided members of congress. lawmakers are debating the potential that weapons provided by the u.s. could fall into the wrong hands. john boehner says congress should be consulted before the administration carries out any potential military action. boehner says that did not happen before the u.s. became involved in libya. >>> now to an issue of gun reform where republicans have seen their bill stripped down in the face of tough opposition. "the new york times" reports dianne feinstein stormed from harry reid's office monday when she was informed that her ban would not be included in the bill. the measure never had a chance citing lobbying and the nra and concerns from both parties doubt about the impact on stopping gun violence and lack of support from the gun safety groups like that of former congresswoman gabrielle giffords. instead of imposing new regulations, republicans are calling for existing law
. >> the syrian government blames terrorist groups for the alleged chemical attack. it triggered new calls on capitol hill to arm opposition forces, something sharply divided members of congress. lawmakers are debating the potential that weapons provided by the u.s. could fall into the wrong hands. john boehner says congress should be consulted before the administration carries out any potential military action. boehner says that did not happen before the u.s. became involved in libya....
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Mar 26, 2013
03/13
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some are angry at their own government. some are angry that the depositers taking a haircut of over 100,000 eros. they say that is not fair and want something done about that. a general sense of frustration not to the point of rioting but they're getting their point across. liz: they do have as we should point out different issues than the problems we saw in greece over last two years. greece there was too much spending on behalf of the government. you're looking for example at a nanny state situation. the banks were undercapitalized but too much in deposits and at least one of them had failed. so we're looking at a situation where the average cypriot probably isn't like the rich oligarchs of russia, might not have as much that would be given a haircut in their bank account yet they are still very concerned because they can't get their money out. how do they feel about the rich russians who maybe helped push this bad situation along? >> well there are two things about that. one, a number of people here, tens of thousands of
some are angry at their own government. some are angry that the depositers taking a haircut of over 100,000 eros. they say that is not fair and want something done about that. a general sense of frustration not to the point of rioting but they're getting their point across. liz: they do have as we should point out different issues than the problems we saw in greece over last two years. greece there was too much spending on behalf of the government. you're looking for example at a nanny state...
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Mar 20, 2013
03/13
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and the threat of a government shutdown next week is getting smaller. the senate today passing a continuing resolution that will fund the government until september 30th. the house is expected to pass it tomorrow. one less thing for the markets to worry about, i think. there was concern about this, you know, coming or approaching month's end. this was the first time they made a deal. they really had a deal done, how rodgers and barbara mccalsky in the senate had a deal. i cannot help myself, one of part of the deal is still in there and that is no funding for obamacare, that is no funding for obamacare, do you have a thought on that? >> i don't have a thought on that, it keeps getting kicked down the road over and over and over again. eventually we have to come to the table and have a discussion. it is going to be funded or not? >> tony, i think this is a good start, myself. i'm being truthful, i do not want to fund obamacare, i think the country can do better, what is your take on this? >> look, i think if the votes are there for it, they will find the
and the threat of a government shutdown next week is getting smaller. the senate today passing a continuing resolution that will fund the government until september 30th. the house is expected to pass it tomorrow. one less thing for the markets to worry about, i think. there was concern about this, you know, coming or approaching month's end. this was the first time they made a deal. they really had a deal done, how rodgers and barbara mccalsky in the senate had a deal. i cannot help myself,...
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Mar 20, 2013
03/13
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. >>> san francisco attorney wants the federal government to crack down on energy drinks. they are urging the fda to require the amount of caffeine to the put on the label. five deaths have been linked to the drinks and the company that makes the drinks say it is safe. >>> they have linked obesity to sugary drinks and the number comes from the american beverage association which says the study is more about sensationnallism and -- sensationalism than science. >>> the carnival sensation is being brought back in to save the event. now this year's celebration is set for may 25th and 26th, but they are having money problems in fact they are in financial jeopardy and there is talk of canceling the tradition. 400,000 has been given and they need an additional $170,000. the city is now investigating why they are having money problems. >>> we are closer to 6:00 and sal has at least one crash to talk about, sal? >>> that's right we have had a bunch of crashes but right here we have an overturned vehicle and several other cars involved so watch for slowed traffic in that area. also
. >>> san francisco attorney wants the federal government to crack down on energy drinks. they are urging the fda to require the amount of caffeine to the put on the label. five deaths have been linked to the drinks and the company that makes the drinks say it is safe. >>> they have linked obesity to sugary drinks and the number comes from the american beverage association which says the study is more about sensationnallism and -- sensationalism than science. >>> the...
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Mar 25, 2013
03/13
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FBC
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liz: how does the government win? people stimulating housing market? >> get benefit of economic activity and don't have the long term deduction for the someone says in home 25 years and gets deduction every year. liz: let me play devil's advocate on the industry side, it will cause a housing slump if you eliminate the gift that keeps on giving. >> glad you asked that. it does the opposite in my opinion. if you look about it, painted ourselves in corner. 3.5, 4% interest rates. we know rates will go up eventually, rates go up 6, 7%, still good, will someone purchase a home and i don't want to give up 3% mortgage to take out one for seven. wait a minute, a have a 3% mortgage after the tax deduction feel like more of a bridge. liz: how do we implement this? how do we say to the lobbyists. this will become what 2 has become, five years done? somebody has to compromise. >> everyone wants to do not in my backyard. it has to be part of a grand plan. part of a total revenue package and expense cutting package, right? if we're able to accomplish that, implement
liz: how does the government win? people stimulating housing market? >> get benefit of economic activity and don't have the long term deduction for the someone says in home 25 years and gets deduction every year. liz: let me play devil's advocate on the industry side, it will cause a housing slump if you eliminate the gift that keeps on giving. >> glad you asked that. it does the opposite in my opinion. if you look about it, painted ourselves in corner. 3.5, 4% interest rates. we...
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Mar 19, 2013
03/13
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FBC
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eye 42
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you don't need anything from the government other than the government to say, all vehicles purchased by the federal government every year, 200,000 vehicles, will be on domestic fuel. it doesn't have to be on natural gas. i'm all american. i will take anything just so it's american. what i want it do is get of of opec oil and quit paying for both sides of the war. what that's what we're doing. everybody understands. yeah. we're stupid to do that. melissa: no. and while we're putting all of our eggs in the natural gas basket let me ask you about prices there because there was an article out last week that has gotten a lot of attention talking about the sleeping giant in natural gas and predicting the price was going tox flowed. we've seen the price of natural gas be depressed over the past this year mainly because we've seen all the fantastic supply come online because of fracking. where do you think the price of natural gas is headed and are you worried there could be a dramatic spike that would derail these plans? >> no. i don't think, i don't think there is any prospect of that. you
you don't need anything from the government other than the government to say, all vehicles purchased by the federal government every year, 200,000 vehicles, will be on domestic fuel. it doesn't have to be on natural gas. i'm all american. i will take anything just so it's american. what i want it do is get of of opec oil and quit paying for both sides of the war. what that's what we're doing. everybody understands. yeah. we're stupid to do that. melissa: no. and while we're putting all of our...
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Mar 20, 2013
03/13
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the government shutdown day is next wednesday. the senate about four or five minutes ago passed a bill to avoid a government shutdown until october 1st. that bill heads to the senate. the president is expected to sign it. it is expected to pass the house and avoid a government shutdown until the next fiscal year. that is october 1st. there is no agreement on how to fund the government beyond that a number of different proposals up from democrats and republicans in the house this afternoon. they basically spent the entire day knocking each other's budgets. >> here's the theme. take more money from the economy. take more money from families. take more money from small businesses. spend it in washington and hope everything works out. it is not working out. >> our focus and our priority is on dealing with the jobs deficit. that is the best way to reduce the long-term deficit and do it in a balanced way. >> so the house will probably tomorrow pass the house republican budget. that balance the budget within 10 years and cuts some $4.5 t
the government shutdown day is next wednesday. the senate about four or five minutes ago passed a bill to avoid a government shutdown until october 1st. that bill heads to the senate. the president is expected to sign it. it is expected to pass the house and avoid a government shutdown until the next fiscal year. that is october 1st. there is no agreement on how to fund the government beyond that a number of different proposals up from democrats and republicans in the house this afternoon. they...
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Mar 21, 2013
03/13
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notice our federal government. there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been
notice our federal government. there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people...
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Mar 22, 2013
03/13
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we know that local and state governments are cutting back. that's not positive. finally, there is this missed quarter evidence. federal express did blow up. it was not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then we got oracle. while oracle almost always bounces back, making my charitable trust which owns the stock want to buy more, i have to believe the macroenvironment has gotten worse than we thought. oracle is not that bad a company. you don't want to get too negative either. what could be right? while i don't expect a grand bargain in washington, i think that's off the table, it's always possible and if that happens and you're short the market, betting against it or don't have enough stock, you will be left behind. you will be crushed. you short the market, we get a grand bargain, one solution. second, the brinkmanship game in europe could get resolved with some solution we don't know about yet that works out, one th
we know that local and state governments are cutting back. that's not positive. finally, there is this missed quarter evidence. federal express did blow up. it was not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then we got oracle. while oracle almost always bounces back, making my charitable trust which owns the stock want to buy more, i have to believe...
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Mar 21, 2013
03/13
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FBC
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but it will keep the government running through september, no government shutdown, no running out of money until september 30. we will keep on running as we are now. no impact on the stock market, the dow down 71 points. cyprus is a big factor for stock and factors com investors. another solar company getting closer to going broke. how much of your money may have been wasted after this. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could busiss pro. yes, you could. go national. go like a pro. stuart: another solar startup that could be in deep trouble months after opening its doors the first place. solar powered in-line for taxpayer loans dipped into the money it is i but is in line tot it. cutting the workforce and restructuring. the taxpayer backed solopower would create hundreds of jobs fo
but it will keep the government running through september, no government shutdown, no running out of money until september 30. we will keep on running as we are now. no impact on the stock market, the dow down 71 points. cyprus is a big factor for stock and factors com investors. another solar company getting closer to going broke. how much of your money may have been wasted after this. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with...
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Mar 25, 2013
03/13
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ireland, the government of ireland did not want to bail out senior bondholders and banks. but the european central bank insisted that they do so. they were apoplectic about that idea. today they wiped out the senior bondholders. not just senior bondholders. european investors and investors in europe should be on notice as of today that you have to be more careful when you're investing in european banks and you should have known that long before the dutch finance minister said what he said today. now, here's why the cyprus situation is unique. that's when it comes to punishing uninsured depositors. cyprus's banking system is huge relative to the size of its economy. their banks are almost all entirely deposits. at least the two ones that were failing. most of the other banks in europe have a lot more junior and senior debt. big fat cushions that sit between potential losses and uninsured depositors. so the likelihood of this particular situation happening again? highly unlikely. but you're going to have to be more careful. that's the bottom line. bill? >> michelle, the ques
ireland, the government of ireland did not want to bail out senior bondholders and banks. but the european central bank insisted that they do so. they were apoplectic about that idea. today they wiped out the senior bondholders. not just senior bondholders. european investors and investors in europe should be on notice as of today that you have to be more careful when you're investing in european banks and you should have known that long before the dutch finance minister said what he said...
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Mar 21, 2013
03/13
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it could be that the government will look entirely different from how the last government did. i can imagine lots of political scenarios where you can work out a deal between the groups >> taking in more regionally, we , ve refugees in turkey overwhelming in jordan and lebanon on. term, this becomes a financial burden of political risk to these countries. what do we need to make sure we do everything necessary so that does not happen? conversations with these neighboring countries -- they have explained to us the strains and burdens this is putting on their societies. there are economic strains and also attentions between the groups in those countries like in lebanon, for example. we talked about questions and i thought about how christians and muslims live together in lebanon on but when you have these extra burdens put on the country, and provoked tensions among different communities. what congress can do is continue to provide assistance so we can support these countries. in some cases such as dorgan, we have a bilateral assistance relationship -- such as jordan, we have a b
it could be that the government will look entirely different from how the last government did. i can imagine lots of political scenarios where you can work out a deal between the groups >> taking in more regionally, we , ve refugees in turkey overwhelming in jordan and lebanon on. term, this becomes a financial burden of political risk to these countries. what do we need to make sure we do everything necessary so that does not happen? conversations with these neighboring countries -- they...
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Mar 20, 2013
03/13
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>> government and the pension plan. they have been given a chance to go in and see if they can find money in san bernardino that san bernardino can find in their own books because they're in a big fight. san bernardino says we owe $143 billion, $143 million in pension, helpers says you owe $250 million. so they don't even agree on how much everybody is owed. lori: how much of the wage increases and even if the city isn't bankrupt, still has to put a tremendous burden because so many cities are in distress. melissa: is very common in california. it is about, the total budget for san bernardino is $250 million per year. police 64 million, the firefighters 30 some million, just shy of 100 million so it is pretty close to half of the whole entire city budget is police and fire. they get automatic pay raises based on the charter. the city council has had a vote to tear up the charter and they won't do it because the members supported by the unions vote lets keep the charter, they will have to wait for the bank of the judge t
>> government and the pension plan. they have been given a chance to go in and see if they can find money in san bernardino that san bernardino can find in their own books because they're in a big fight. san bernardino says we owe $143 billion, $143 million in pension, helpers says you owe $250 million. so they don't even agree on how much everybody is owed. lori: how much of the wage increases and even if the city isn't bankrupt, still has to put a tremendous burden because so many...
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Mar 20, 2013
03/13
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how you run a government or a branch of government with c.r.'s that go for that short amount of time? how do you adequately budget for that? >> it is very difficult. we err on the side of being conservative, as we have here, to make sure we are not deficient at the end of any given continuing resolution. it is difficult. we are a very large operation. we are taking in over 400,000 people a year. and if it has to go on for the full year. when you are in an environment where you do not know what your budget is going to be on the various marks and the house and the senate are different, when you are looking at sequestration, it is a challenge and you do your best under the circumstances to come up with the right answer. >> as you went through the releases and you sit here today, do you think your department went through the necessary due diligence to make sure the people who are released pose the least threat to our citizens and constituents? >> instructions to the field were clear. these decisions were made by career professionals in the field. so
how you run a government or a branch of government with c.r.'s that go for that short amount of time? how do you adequately budget for that? >> it is very difficult. we err on the side of being conservative, as we have here, to make sure we are not deficient at the end of any given continuing resolution. it is difficult. we are a very large operation. we are taking in over 400,000 people a year. and if it has to go on for the full year. when you are in an environment where you do not know...
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Mar 22, 2013
03/13
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>> the medicare pricing that's come out set by the government was set at a lower level. the thinking is it may stay there, and plus they have the most exposure to increasing health care costs for obama care so to they this is one you want to stay on the sidelines with, even though it looks cheap. united health with some exposure is much more spread out and is a cheap stock. >> we'll take a quick break and come back and go around the horn from here at post nine and give you final trades just ahead of the weekend of what promises to be a big weekend with news likely developing out of europe. we're back in a couple of minutes. tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this wi
>> the medicare pricing that's come out set by the government was set at a lower level. the thinking is it may stay there, and plus they have the most exposure to increasing health care costs for obama care so to they this is one you want to stay on the sidelines with, even though it looks cheap. united health with some exposure is much more spread out and is a cheap stock. >> we'll take a quick break and come back and go around the horn from here at post nine and give you final...
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Mar 20, 2013
03/13
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cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable, people like chris flowers and wilbur ross and tim collins would have been here a long time trying to buy it. they said maybe we'll split it up, divide it into the good bank and bad bank. we'll sell the good bank to the russians and the troika said selling the good bank is the easy part. what are you going to do with the bad bank? none of that is going to work. you will hear more about what the hopes are for russia from steve in a second. because plan b has been rejected, this is the stark choice cyprus faces. they can either go back to taxing deposits or they can leave the euro or they can consolidat
cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try to sell one of the bad banks. and the fact of the matter is if the bad bank were sellable,...
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Mar 22, 2013
03/13
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the government spokesperson came out about 15 minutes ago. he spoke 10 minutes and said almost absolutely nothing. the plan c is being written up right now by cyprus to submit to the european partners, see if they can get this one passed. we are almost 100% sure it includes the winddown in one of the weakest banks. there's protesters at the end of this street. they are worried about losing their jobs. the cash shortage here is still quite acute. gas stations are only accepting cash, the vast majority of them. they take up to 30 euros credit. no visa is a generic term for credit cards in general. i want to add something i said last hour. i absolutely believe there will not be an attempt to impose a tax on in the future when it comes to deposits. however, i think the one key lesson here is junior bondholders, senior bondholders will definitely take big losses if this goes down. and uninsured depositors will take losses. this is a big step for europe getting closer to the point where tax payers don't pick up the bills for failed states and faile
the government spokesperson came out about 15 minutes ago. he spoke 10 minutes and said almost absolutely nothing. the plan c is being written up right now by cyprus to submit to the european partners, see if they can get this one passed. we are almost 100% sure it includes the winddown in one of the weakest banks. there's protesters at the end of this street. they are worried about losing their jobs. the cash shortage here is still quite acute. gas stations are only accepting cash, the vast...
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Mar 21, 2013
03/13
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eye 127
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government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for millions. it has transformed the way people communicate so what could twitter do in the next seven years? tweet us @squawkstreet. >>> the market is accelerating downward, now down 67 points. let's get a "market flash" from josh back at hq. >> juniper networks is under pressure this morning. analysts at fbr not fans saying we are the end of an era as routers and switches are set to decline. fbr downgrades juniper and cisco toeon perform. the company's fbr sa
government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first...
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Mar 19, 2013
03/13
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so i think this new government is a real plus for changes in the chinese government that will be a big advantage, especially in the economics in the area of currency convertibility. i think you're going to see a lot of opening up of the chinese capital markets over the next coming years. >> and is on that score, if you're lew, how do you approach that issue, currency? >> well, the u.s. has always been pressing for opening of the capital markets, partly because the u.s. represents have had backing from wall street and the investment banks. but now, the chinese have a reason to do it on their own. they have $3.5 trillion worth of foreign reserves. they have to find a way toni vest those assets over the coming decades. they have to be invested in other countries in order to not put pressure on the currencies, which means they need cooperation of government. the u.s., in turn, needs the chinese government to continue holding the debt that they own and, as we can see from projection would be to buy a lot more of it. i think both of those things will happen. but currency, cop veteranbility,
so i think this new government is a real plus for changes in the chinese government that will be a big advantage, especially in the economics in the area of currency convertibility. i think you're going to see a lot of opening up of the chinese capital markets over the next coming years. >> and is on that score, if you're lew, how do you approach that issue, currency? >> well, the u.s. has always been pressing for opening of the capital markets, partly because the u.s. represents...
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Mar 21, 2013
03/13
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we being our government, our central bank, than the european central banks and their disparate government as well as that of the e.u.. this business of trying to confiscate 10% of deposits in cyprus was pure lunacy. the kind of misjudgment that can create immense problems, unforeseen consequences and i think we'll see it. if russia steps into cypress, again we've got to keep this in context, 1.1 million people, mostly greeks, do business mostly with greeks but a third of the deposits there are russian. these folks have, you know, if they end up doing a deal which russia bails them out, the e.u. will be set back tremendously and there will be reverberations but i think we have to make it clear. there will be no contagion to the united states. lori: i just want to remind our viewers and i just got a note from nicole petallides who is greek, family members from cyprus, her cousin telling her there are long lines at the bank. the banking news this hour they lowered the limit of money you can take out of the atms. melissa: thattis increasing panic. lori: self-fulfilling prophecy, right? >> mak
we being our government, our central bank, than the european central banks and their disparate government as well as that of the e.u.. this business of trying to confiscate 10% of deposits in cyprus was pure lunacy. the kind of misjudgment that can create immense problems, unforeseen consequences and i think we'll see it. if russia steps into cypress, again we've got to keep this in context, 1.1 million people, mostly greeks, do business mostly with greeks but a third of the deposits there are...
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Mar 20, 2013
03/13
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forcing governments, in this case the government in cyprus to look elsewhere. again, do we want europe -- talking to the russian government about getting financial assistance, to get out of the blackmail in europe. this is very peculiar. >> it sounds to me like the decision you would like to see is one that ends up bailing out russian depositors in the banking system. those who are not insured. is that a bailout that you think is the right one? and one that should be approved by, for example, by german taxpayers or paid for by german taxpayers? >> so this is the rhetoric you refer to is precisely part of the rhetoric that has been distractive in handling the crisis in the last three years. first of all, confiscating deposits in a banking system is not the proper way to deal with anything. and this is what the european governments have proposed. second of all, we're not talking about making a gift to anybody. when the government of cyprus is out of market and cannot finance its own needs from international markets, under the circumstances, other countries throug
forcing governments, in this case the government in cyprus to look elsewhere. again, do we want europe -- talking to the russian government about getting financial assistance, to get out of the blackmail in europe. this is very peculiar. >> it sounds to me like the decision you would like to see is one that ends up bailing out russian depositors in the banking system. those who are not insured. is that a bailout that you think is the right one? and one that should be approved by, for...
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Mar 21, 2013
03/13
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the question is how much does the russian government want to put up? it would have to put up quite a lot of money if -- to avoid any real problems in cyprus to guarantee that this will happen. probably talking 6 billion euros would be needed to avoid any writedowns of these deposits. they will get that money back. the main reason they didn't get more money -- more money wasn't lent, it's grossly overin debted. you would have to consider it a gift. they have talked about reference. on the base of what we're hearing at the moment, it doesn't seem likely. that creates quite big questions for the west. cyprus is an important base. >> martin, thank you. appreciate your time today. >> pleasure. >> and a preview of what's coming up from new orleans. andrew? >> we are in the big easy he. we are talking mergers and acquisitions. we have the co-head coming after after this break. we'll talk to him after this short break. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform
the question is how much does the russian government want to put up? it would have to put up quite a lot of money if -- to avoid any real problems in cyprus to guarantee that this will happen. probably talking 6 billion euros would be needed to avoid any writedowns of these deposits. they will get that money back. the main reason they didn't get more money -- more money wasn't lent, it's grossly overin debted. you would have to consider it a gift. they have talked about reference. on the base...